LifeCare FAQs
Here are answers to some of our most frequently asked questions about Epworth Villa’s LifeCare contract. If you have additional questions and would like to speak to a member of our team, let’s chat.
Q: What is an entrance fee?
An entrance fee is a one-time fee that initiates your Life Plan contract. Entrance fees are based on the type of contract you choose, the size and type of residence, and the number of occupants. This fee qualifies you for lifetime residency rights at Epworth Villa.
Q: Is the entrance fee refundable?
Both Life Plan options have a refund option. 1: an amortizing refund that reduces monthly, reaching a zero-refund amount at the end of 5 years. 2: an 80% or a 90% refund option is available. 90% for a single occupant, and 80% for double occupancy.
Q: How does this work with long-term care insurance?
While plans vary, you may have a long-term care insurance plan that offers benefits should you need higher levels of care, including assisted living, memory support, or long-term care. Some even provide private duty care if you need it. Check with your insurance provider for specifics. Your long-term care insurance can work on either plan based on what your policy provides.
Q: Which type of Life Plan is the best for me?
Our counselors are always ready to work with you to help you understand the details of our Life Plans, the benefits of each, and which might be a good fit for you. As a not-for-profit organization, our goal is not to sell to you. It’s to help you figure out if Epworth is right for you. And if it is, which plan best suits your specific needs.
Q: How do refundable plans work?
Refundable entry fees come in two types: guaranteed and amortized. Simply put, a guaranteed refundable entry fee means a set percentage of your entry fee is refunded back to you if you ever choose to leave Epworth Villa, or to your estate upon your passing. Amortized refundable entry fees would start with a refundable percent set at contract signing, and this percent is reduced over time.
Q: Why do I need to pay an entry fee?
A great way to think of an entry fee is as an investment in your quality of life that provides certainty and predictability in managing the aging process. As a not-for-profit community, we’re making a commitment to you to do everything we can to help you thrive and promote healthy living as you age. This includes enhancing our surroundings and acting as good stewards of the resources we are entrusted with. An entry fee qualifies you for all the amazing benefits of community membership, and helps fund improvements to the community for you to enjoy for a lifetime.
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